Egypt: Maridive swings to profitability in Q1

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Consolidated revenues grew 102% year on year (YoY) in the three-month period, reaching $41.571 million

Staff Writer, Arab Finance

July 20, 2023

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Maridive and Oil Services (MOIL) recorded consolidated net profits after tax of $8.087 million in the first quarter (Q1) of 2023, versus net losses of $10.713 million in Q1 2022, according to the financial indicators filed to the Egyptian Exchange (EGX) on July 19th.

Consolidated revenues grew 102% year on year (YoY) in the three-month period, reaching $41.571 million, compared to $20.590 million.

Maridive Group is an Egypt-based company engaged in the provision of offshore marine and oil support services in the Middle East and North Africa Region.

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